UK group 3i buys German supplier Schlemmer, report says

FRANKFURT -- British buyout group 3i has bought German car parts maker Schlemmer from investor Hannover Finanz in a deal valuing the company at more than 400 million euros ($446 million), according to a source familiar with the transaction.

3i said in a statement its equity investment stood at 181 million euros, declining to comment further.

A source close to the transaction said that including debt the cable equipment maker was valued at more than 400 million euros.